CIT experts want to help farms cope with milk price volatility
Experts at the Cork Institute of Technology (CIT) want to bring new skillsets to dairy farmers to help them cope with milk price volatility.
Extremely low dairy product prices can cause many financial problems for dairy farmers and can ultimately threaten their solvency. According to CIT, extremely high prices can result in dairy product substitution in the markets which can be difficult or impossible to reverse. Tools for managing volatility include diversification, forward contracts, dairy derivative contracts, insurance, and policy initiatives, but use of these tools is conditional on those in the sector understanding them, according to CIT sources. Dr Declan O’Connor, department of mathematics, said: “We are particularly interested in engaging with the various stakeholders, including farmers, on the structure and content of bespoke education offerings which will form part of our farm education programme.”
Co Cork-based dairy farmers are invited to attend CIT information and consultation events on Wednesday, April 11 in the Celtic Ross Hotel, Rosscarbery; Wednesday, April 18 in the Wallis Arms Hotel, Millstreet; and Wednesday, April 25 in the Firgrove Hotel, Mitchelstown.
All these events commence at 7.30pm.
The initiative is supported by Cork County Council, and the Mayor of the County of Cork, Cllr Declan Hurley, encouraged dairy farmers to attend.
“As a dairy farmer myself, I am only too familiar with the uncertainties of this industry. “I look forward to the dairy sector of Cork sharing its views and examining such options.” Queries may be sent to firstname.lastname@example.org and no advance reservation is necessary before attending the events.
Mayor of the County of Cork, Cllr Declan Hurley has encouraged dairy farmers to attend CIT events.